PANJIM: Employees’ Provident Fund Organisation said the statutory contributions both on part of the employee and the employer (12+12=24%) of eligible establishments shall be borne by the Central Government under Pradhan Mantri Garib Kalyan Yojana (PMGKY) ensuring increase in take home salary to the employees and liquidity in the hands of the employers.
This scheme has been announced to be extended upto wage month August 2020.In the State of Goa, prima facie there are 1741 eligible establishments, and 42251 eligible members/subscribers. Out of them only 877 establishments and their 11126 employees took benefits to the tune of 1.87 crore for March 2020, while 868 establishments for April, 2020 and only 759 establishments for May 2020 have taken advantage of the PMGKY Scheme, till now. An amount of Rs 5.40 crore has been borne against these establishments by the central government during these 3 months.
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Further, the Central Government has reduced the statutory contribution rate from 12% to 10% for the wage months May, June and July, 2020 for all class of establishments except Central/State PSEs. A member opting to contribute higher than the statutory rate could continue. However, the employer can restrict his contributions at the statutory rate of 10%. The notification dated 18.05.2020 is published and is in public domain at the official website of the organisation.
